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How Your Credit Score Affects Your Mortgage Rate

By Michael Burge Without a high credit score, you won't qualify for the best mortgage rates available, which could mean you'll end up paying more money over the term of your mortgage. Even with rates at historic lows right now, the difference between 3.5% and 3.75% can add up, especially if you're applying for a 30-year fixed-rate mortgage. Why does your credit score matter to lenders? Along with a low debt-to-income ratio and a strong financial history, a high credit score gets you a low mortgage rate.
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